When you look at the subject of procrastination you immediately recognize the fact that people put off the things that they don’t want to do, not the things that they find to be enjoyable. Folks don’t usually procrastinate when it comes to going to see their favorite musical artist, scheduling a tee time, or making reservations at that excellent new five star restaurant.
With that in mind, what could be more subject to “procrastination” than death? That is something that we most definitely want to push way, way to the back of the back burner, and this is one of the few things that everyone can agree about.
However, planning for aging and death should be seen in a different light. Your estate plan is in a very real sense part of your overall financial plan. Most of us view the ebb and flow of our financial well being as an ongoing process, and we keep our fingers on the pulse of market conditions, ready, willing and able to make adjustments whenever necessary. You should view your estate plan in the same way, and of course many people do, but there are those that don’t because they are prone to procrastination.
Some people procrastinate when it comes to creating or adjusting their estate plans because they feel as though it is something that is not relevant in the present. Yes, it is important, they reason, but it is important for later and not for now. We would suggest that this is flawed thinking, because relatively early estate planning is akin to insurance in a very real sense.
You may logically have ten, twenty, or thirty years left, but what if something was to happen unexpectedly today, tomorrow or the next day? Would your estate plan accomplish what you want it to? If the answer is no, be proactive and make the changes that you need to make. The time that it takes to keep your estate plan current is something that each one of us owes to our loved ones, and the peace of mind that comes along with knowing that all of your ducks are in a row is priceless.